Gottex Fund Management Holdings has announced that it has reached agreement on the acquisition of Hong Kong based Penjing Asset Management, one of the primary Asian alternative asset management providers. Ronnie Wu, founder and CIO of Penjing, will join
2012 and announced the next regular quarterly dividend of $0.015 per share would be payable on June 12, 2012 to shareholders of record on May 29, 2012.
The bank was forced to book provisions for risky loans of 970 million euros over the quarter, a 43 percent rise compared to a year earlier, as credit quality deteriorated in Italy due to a deep economic recession.
The Metro bank is still a very small player in the U.K., dwarfed by the "big four"--Lloyds Banking Group PLC (LYG), Royal Bank of Scotland Group PLC (RBS), Barclays PLC (BCS) and HSBC Holdings PLC (HBC).
But as well as buying into telecoms provider BT, Moore (pictured), said he bought into Barclays because 2011'a difficulties made it underpriced even though this year it is in a stronger position.
Alexander Baziyan, a spokesman for Moscow-based Sberbank, declined to comment on the process or Denizbank’s valuation. A spokesman for Dexia declined to comment.
Jane Turner, manager of Schroders’ multi-manager funds, is cautious about the near-term outlook for markets following a difficult 2011 and a rally in which she was held back by exposure to US high-yield debt and defensive shares.
Citigroup leapfrogged Barclays Plc and UBS AG to become the second-biggest currency trader, Euromoney said in an e-mailed statement. Barclays slipped to third place and UBS to fourth, while HSBC Holdings Plc climbed into the top five.